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Restructuring | 12 Months Ended
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Jan. 31, 2024
Restructuring and Related Activities [Abstract] |
Restructuring | Note 19—Restructuring On July 26, 2023, we adopted a restructuring plan for our PI segment that transitioned a portion of the printer manufacturing within that segment from our facility in Rhode Island to our Astro Machine facility located in Illinois. Additionally, we ceased selling certain of our older, lower-margin or low-volume PI segment products and made targeted reductions to our workforce. As part of the restructuring plan, we also consolidated certain of our international PI sales and distribution facilities and streamlined our channel partner network. As of January 31, 2024, we have completed this plan. As a result of the adoption and implementation of our PI segment restructuring plan, in the second quarter of fiscal 2024 we recognized a pre-tax restructuring charge of $2.7 million, comprised primarily of non-cash charges related to inventory write-offs associated with product curtailment and discontinuation and facility exit related costs, and cash charges related to severance-related costs. The following table is a summary of the restructuring costs by type for the year ended January 31, 2024:
(In thousands) |  | Inventory Write-Off |  |  | Severance and Employee Related Costs |  |  | Facility Exit and Other Restructuring Costs |  |  | Total |
Restructuring Charges |  | $ | 1,991 |  |  | $ | 611 |  |  | $ | 49 |  |  | $ | 2,651 |
Change in Estimates (1) |  |  | — |  |  |  | (75 | ) |  |  | — |  |  |  | (75 | )
Total |  | $ | 1,991 |  |  | $ | 536 |  |  | $ | 49 |  |  | $ | 2,576 |
(1) During the fourth quarter of fiscal 2024, we recorded a $75,000 net reversal to our restructuring charge, which was attributed to lower than anticipated severance charges due to retaining and re-assigning certain employees. The following table summarizes restructuring costs included in the accompanying consolidated statement of income as of January 31, 2024:
(In thousands) |  |  |
Cost of Revenue |  | $ | 2,064 |
Operating Expenses: |  |  |
Selling & Marketing |  |  | 400 |
Research & Development |  |  | 29 |
General & Administrative |  |  | 83 |
Total |  | $ | 2,576 |
The following table presents the details of liability for Severance and Employee Related Cost:
(In thousands) |  |  |
Balance January 31, 2023 |  | $ | — |
Restructuring Charges |  | 611 |
Cash Paid |  |  | (524 | )
Effects of Foreign Exchange |  |  | (12 | )
Change in Estimates |  |  | (75 | )
Balance January 31, 2024 |  | $ | — |
Product Retrofit Program In connection with our restructuring plan, we identified the need to address quality and reliability issues in certain models of our PI printers as a result of faulty ink provided by one of our larger suppliers. We identified approximately 150 printers sold to our customers that were affected by the faulty ink. In order to remedy these issues and maintain solid customer relationships, during the second quarter of fiscal 2024, we initiated a program to retrofit all of the printers sold to our customers that were affected by the faulty ink. The initial estimated costs associated with this program were $0.9 million, which included the cost of parts, labor and travel. During fiscal 2024, we worked with our customers to either repair or replace the affected printers. At the end of the fourth quarter of fiscal 2024, we adjusted our estimate of costs for this program as we determined not all customers wanted to retrofit their printers and consequently the program was concluded. As a result, at the end of the fourth quarter of fiscal 2024, we reversed $0.2 million of charges for this program. Total costs of this program as of January 31, 2024, as summarized below, were $0.6 million and are included in cost of revenue in the accompanying consolidated statement of income for the year ended January 31, 2024.
(In thousands) |  |  |
Provision for Product Retrofit Program |  | $ | 852 |
Cost of Repairs and Replacements incurred through January 31, 2024 |  |  | (642 | )
Changes in Estimate (1) |  |  | (210 | )
Balance at January 31, 2024 |  | $ | — |
(1) During the fourth quarter of fiscal 2024, we recorded a $210,000 net reversal to our retrofit program, which was attributed to lower than anticipated participation by customers in this program and ultimate conclusion of the program as of January 31, 2024. There is no balance in the related liability for this program at January 31, 2024.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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